JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, announced today that Standard & Poor’s (S&P) Ratings Services has upgraded FIS’ corporate credit rating from BB+ to BBB- with a stable outlook. S&P cited the company’s strong and consistent operating performance and cash flow, an expectation of a strategic focus on largely organic growth, and moderate financial policies.
“We are pleased that S&P recognizes the significant progress FIS has made in strengthening our balance sheet and achieving our stated goals to grow the business organically, expand margins and drive earnings growth, while maintaining a disciplined capital allocation policy,” said Frank Martire, chairman and chief executive officer of FIS.
FIS (NYSE:FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.